The business-minded social network cut some of Thursday's stock market gloom by reporting a surprise small profit after the bell, posting top-line revenue of $121 million, more than doubling the $54.9 million in revenue it posted in the year-ago quarter. Adjusted earnings per share were 10 cents, above the loss of 3 cents and quarterly revenue of $104.7 million analysts were expecting.
The company, which plans on reinvesting money into itself to make its site more sticky for users, has grown to 115.8 million members so far, up 61% from a year ago.
Fusion-io (FIO), the data storage specialist that made its public debut in June, was also rising in pre-market trading, up almost 6% to $25.02 on its solid fourth-quarter earnings beat. The company, which counts many of Silicon Valley's biggest firms as clients, reported earnings of 15 cents a share on revenue of $71.7 million, above the expected 14 cents EPS on sales of $70.6 million.IDC's new report reiterated Apple's (AAPL) first-place grab from Nokia (NOK) in the worldwide smartphone market. Apple sold 20.3 million iPhones during the second quarter and now holds 19.1% market share, while Samsung, which shipped 17.3 million phones, holds 16.2% share. Nokia, whose new Microsoft (MSFT) Windows Phone 7 models should hit the market later this year, is in third place with 15.7% market share. Apple shares were rising in pre-market trading, up 1.17% to $381.80, along with Nokia shares, which were up about 5% to $5.27. HTC, the Taiwanese handset maker that moved up to fifth place in IDC's smartphone market share report, paid $18.5 million to acquire Seattle-based Dashwire, a mobile-web application company, reported Reuters. The deal is expected to bolster HTC's cloud computing services. Demoing their findings at a cybersecurity conference in Las Vegas Thursday, a Carnegie Mellon research team used facial recognition technology to show how Facebook's huge database of profile photos can be used to identify people and match them with information stored on their profile, including their name, social security number, date of birth and place of residence. The findings, said the team, shows "ominous risks for personal privacy," according to Cnet. --Written by Maggie Overfelt in New York. >To follow the writer on Twitter, go to http://twitter.com/maggieoverfelt. >To submit a news tip, send an email to: email@example.com.
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